EV Resources Ltd.: Further High-grade Tin and Tungsten Results at Khartoum Project
Highlights:
- EV Resources has received sampling results from the Khartoum Project:
- Tungsten values to 2.03% in Fingertown tungsten zone.
- Tin values to 3.96% at Geebung and 0.49% at Mary Ann.
- Follow up sampling and further reconnaissance completed with results pending.
24 October 2022, EV Resources Limited (ASX:EVR) (“EVR”, or the “Company”), is pleased to provide an exploration update for the Khartoum Project, located in North Queensland.
Sample results have been received for reconnaissance tungsten sampling during August and September in the Fingertown area and for tin exploration at Mary Ann (Boulder area) Geebung. The results highlight the potential for tungsten mineralisation associated with the Black Prince Granite and for extensions to the tin mineralisation encountered in drilling at Mary Ann (BARC0018, 0019 and 0020 – refer to ASX release dated 6 September 2022).
Tungsten Exploration
EVR previously announced (refer to ASX release dated 6 September 2022 “Broad Tin Zones from Drilling at the Khartoum Tin-Tungsten Project”) that initial exploration had commenced in areas of historic tungsten mines in the Fingertown-Geebung area. Sampling at the historic Fingertown mine returned encouraging tungsten values with results from the main working averaging 0.68% W to a maximum of 2.01% W and a sample of quartz material with visible wolframite located within a trench 200m west of the cutting returning 0.68% W.
Sampling was extended to the east of Fingertown within the Black Prince Granite, the unit strongly associated with tungsten mineralisation in the area. Sampling at the Gauntlet Mine (KRC000317 – 000321) area returned values including 0.14% W, 0.10% W and 2.03% W. Eight samples (KRC000322 – 000329) were collected from an area of several small unnamed pits 1.5 to 2.5km northeast from Fingertown. Results included five values greater than 0.1% W to a maximum 0.84% W. All samples were of chalcedonic quartz, some with visible wolframite, mainly from spoil piles around workings.
To determine the extent of mineralisation in the region, the Geebung and Bovis mine areas, located 1500m northwest from Fingertown, were located and sampled. The mines form a series of shallow shafts and adits targeting quartz veining in weakly greisenised granite. Little is known about the workings; production is stated as 3T of wolframite concentrate at an unknown grade. Most samples were of mullock material, although some in situ vein samples were collected where workings were accessible.
The workings cover an extent of 300m with more than one structural trend discernible, generally NNW-SSE and N-S. Of the 13 samples collected (KRC000337 – 000349), only one sample returned an elevated tungsten value of 1.06% W. However, six samples returned elevated Sn to 3.96% Sn. Also, unlike the Fingertown trend, multielement values to 157ppm Ag, 2.55% As, 13.7% Cu, and 1.60% Pb were returned (see Table 1). It should be noted that the high copper and silver values were from the same sample of mullock with considerable malachite staining and should not be considered indicative of in situ mineralisation grade. The Geebung workings are hosted within the Geebung Granite, and hence a different geochemical signature to workings hosted by the Black Prince Granite.
Follow up sampling has been conducted in both areas with results pending. This is the first systematic tungsten exploration undertaken within the Khartoum tenements.
Figure 1. Tungsten sampling and targets.
Mary Ann Prospect
A linear trend of pits along strike and south of the outcrop tested by RC drilling (BARC0018 – 18m at 0.22% Sn, BARC0019 – 62m at 0.18% Sn, BARC0020 – 15m at 0.19% Sn, refer ASX release dated 6 September 2022) was sampled during the previous month. Outcrop sampling was undertaken prior to drilling due to difficult access to the area. Elevated tin results from drilling are associated with an increase in quartz veining throughout the greisenised host granite. All workings sampled contained visible quartz veining, usually as stockworks and high-density veinlets.
Seven samples (KRC000330 – 000336) of mullock and vein material were collected from the historic pits. Of the three mullock samples collected one sample returned an elevated value of 0.10% Sn. Three of the four in situ vein samples returned elevated values of 0.27% Sn, 0.49% Sn and 0.28% Sn. Elevated multielement values were to 12.3ppm Ag and 0.60% As, a similar association to the elevated values returned from RC drilling.
It should be noted that of 12 samples previously collected across the outcrop tested by drilling only one sample returned an elevated tin value of 1.7%. Based on previously reported drilling intersections and results of sampling of historic mines to the south, the Mary Ann mineralised trend has potential to extend for at least 400m strike.
Table 1. EV Resources rock chip sample results *
* NA = element not analysed
* ‘x’ = below limit of detection
ENDS
For further information, please contact:
Luke Martino
Non-Executive Chairman
Tel: +61 8 6489 0600
Adrian Paul
Executive Director
Tel: +61 8 6489 0600
This ASX announcement was authorised for release by the Board of EV Resources Limited.
The full original press release can be found under the following link:
Forward Looking Statement
Forward Looking Statements regarding EVR´s plans with respect to its mineral properties and programs are forward-looking statements. There can be nо assurance that EVR’s plans for development of its mineral properties will proceed as currently expected. Therе can also be no assurance that EVR will be able to confirm the presence of additional mineral resources, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of EVR’s mineral properties. The performance of EVR may be influenced by a number of factors which are outside the control of the Company and its Directors, staff, and contractors. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the company’s prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
Khartoum Tin-Silver-Tungsten Project
This announcement contains information on the Khartoum Project extracted from an ASX market announcement dated 6 September 2022 and reported in accordance with the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” ("2012 JORC Code"). EVR confirms that it is not aware of any new information or data that materially affects the information included in the original ASX market announcement.
Competent Person’s Statement
The information in this announcement that relates to the Khartoum Project, is based on information compiled by Mr Erik Norum who is a Member of the Australian Institute of Geoscientists. Mr Norum is contracted to EVR. Mr Norum has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Norum consents to the inclusion in this announcement of the matters based on information in the form and context in which it appears.
